The initiation of mandatory MTPL insurance in Georgia to improve the overall perception of insurance products in the country

The development process of the Georgian insurance market will be significantly boosted by the initiation of obligatory Motor Third Party Liability (MTPL) Insurance in Georgia, representatives of ARDI Insurance point out in an official statement.

"This reform will not only trigger the establishment of fundamental basis, but it will also improve the overall insurance perception, increase the social awareness and will prove that insurance, as a financial instrument and risk management tool, is not only for high-income families, but for everyone and especially for those in more vulnerable financial position", ARDI Insurance's representatives explained.

The company strongly believes that it should focus on improving the overall insurance sector and not only evolving one particular business. It is crucial to create innovative, digital products to maintain prompt services on ever expanding basis.

Elevated insurance culture and flexible system, accelerates healthy competition and innovation, will finally deliver better results, which is beneficial for Georgian society and country economic development in general, it is explained in the official statement.

The current status and the future development of the Georgian insurance market are among the main topics of the first Georgian International Insurance Conference, taking place in Tbilisi on 14 March. ALDAGI supports the event as General Partner.

Based in Tbilisi, Georgia, and operating as one of the leader insurer of the country, ARDI Insurance was officially launched in 2010. It offers to its customer's diverse, simple, high quality insurance services.

Since its establishment, ARDI maintains the stable position as a standalone, independent insurance provider. The company's management determined to introduce new, simplified approach towards insurance products with the widest possible coverage on the market. From the very beginning, ARDI's goal was to build-up friendly, easy to use insurance products. As a result, the strategy aimed to focus on the exceptional quality, appeared to be very successful and, consequently, changed the insurance service benchmark in many lines around the country.

ARDI's dynamic development process is based on a particular masterplan and value chain, tailored not only to improve its core business processes, but also intended to introduce innovative, refined services and increase the social awareness about insurance in general. Successful experience of the company in the health insurance sector encouraged the interest of potential customers towards other insurance lines of the company. As a result, ARDI created and developed balanced insurance portfolio, which in turn served as the basis for strong brand loyalty.

From very early steps of its operation ARDI, started partnership with highly rated reinsurance companies from Switzerland, Germany, Great Britain and France. Later ARDI welcomed exclusive cooperation with worldwide known healthcare organizations as well and established agreements with the leading hospitals in Turkey and Israel. This enabled to Insureds' of ARDI to obtain necessary medical services not only from wide variety of Georgian Clinics, but from the leading medical institutions of the world as well.

ARDI strived to differentiate itself from competitors not only by developing a customer service-oriented culture, but also to broaden its coverage through all the territory of Georgia almost simultaneously with Tbilisi offices. First, the company started branch network development, with specially designed Insurance House concept, in Kutaisi, Batumi and Telavi. However, second phase of the company's regional development aimed economically less developed areas - Gori, Rustavi. ARDI became the only insurance service provider for these micro-zones as well.

According to ARDI's management's official position, "it is the matter of corporate social responsibility for every Georgian private company to increase their activity in these areas. At least this is how we see it. With high probability these ventures initially will be negative, but eventually it will bring value". ARDI continues its efforts to expand its activities to cover similar small cities, which may not appear promising from very first glance, but unfold hidden opportunities for future.





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